Joe Biden has released a $700 billion economic plan that combats Donald Trump’s #AmericaFirst agenda.
On Thursday, Biden unveiled the four-part $700 billion proposal, and in it is a plan to use the money on American products and research in an effort to bring back jobs that have been lost this year due to the #coronavirus pandemic. In addition, Biden’s plan has a mission to create 5 million jobs by investing in domestic technology and reducing dependence on foreign countries for supplies. The proposal also states Biden would implement trade and tax policies that help U.S. workers, The Washington Post reports.
During a speech at a metalworks plant in Dunmore, Pa., Biden said the money American taxpayers spend should be reinvested into American products. “When we spend taxpayers’ money when the federal government spends taxpayers’ money, we should use it to buy American products and support American jobs,” said Biden. “Enough is enough,” he added. “It’s time to reverse the priorities in this country. It’s time to help small businesses, middle-class folks, manage their way through the pandemic.”
While Trump has been pushing for the economy to open back up and for the country to stop testing for COVID-19 to lower the number of cases recorded, his team also proposed its own economic plan called “America First.” According to The Washington Post, Trump’s plan has been reportedly put on hold for several months due to internal objections. Stephen K. Bannon, a former chief Trump strategist, said Trump’s team was “caught flat-footed.” Instead of focusing on moving toward globalization and free trade, Biden wants to jumpstart dying domestic industries.
“Biden does not accept the defeatist view that the forces of automation and globalization render us helpless to retain well-paid union jobs and create more of them here in America,” said a person who released the logistics of the plan. According to two sources close to the matter, Biden and Sen. #ElizabethWarren’s teams worked closely on the plan. Biden’s plan wants to use the federal government to promote a U.S. domestic manufacturing base. He is looking to use a $400 billion procurement initiative over four years to create demand for American products and services, The Washington Post reports. He would also like to spend $300 billion on investing in U.S. research and breakthrough technologies.
Bannon believes the “Buy America” plan could help him in Pennsylvania, Michigan and Wisconsin, states Trump won in 2016.“This is very disturbing. . . . They are essentially trying to steal the Trump program of 2016 and steal that playbook. For some reason, the White House and the campaign have been caught flat-footed,” Bannon said. “Biden has very smart people around him, particularly on the economic side.”